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Tuesday , November 20 2018


KSE retreats 5.81 pts amid sluggish trading – KFH gains 10 fils; KIPCO slips

KUWAIT CITY, March 9: Kuwait stocks sagged on Wednesday after see-sawing in the recent sessions. The price index slipped 5.81 points in lackluster trade to 5,278.87 pts Some of the banking shares and mid-caps eked modest gains even as the slight pullback in oil prices dented the investor sentiment. The …

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KIPCO completes $500 mln bond issue despite challenges – 2.5 fold oversubscription reflects global financial community’s confidence in company: Vice Chairman

KUWAIT CITY, March 9: KIPCO – the Kuwait Projects Company – has announced that it has successfully completed the issue of a US$ 500 million (KD 151.8 million) bond under its US$ 3 billion Euro Medium Term Note (EMTN) Program. The issue was 2.5 times oversubscribed. The seven year fixed …

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Saudi Arabia seeks $6-8 bln bank loan – Govt seeks to shore up state coffers

DUBAI, March 9, (RTRS): Saudi Arabia is seeking a bank loan of between $6 billion and $8 billion, sources familiar with the matter told Reuters, in what would be the first significant foreign borrowing by the kingdom’s government for over a decade. Riyadh has asked lenders to submit proposals to …

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KU wins CFA Institute Research Challenge – Winning team to represent Kuwait at EMEA regional

KUWAIT CITY, March 8: Kuwait University became the 2015-16 CFA Institute Research Challenge winner in the Kuwait, beating other universities in a close competition hosted by CFA Society Kuwait, the local society of CFA Institute. Each competing team analysed the financial performance of Mezzan Holding to produce a comprehensive equity …

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Is Saudi peg on the verge of breaking? – Falling oil prices and strengthening dollar bite

In January this year, the Saudi Arabian Monetary Authority (SAMA) issued a statement saying that the 1986 mandate which pegged the country’s riyal to the dollar was not under threat. Roughly a week later, SAMA restricted banks operating within its territory from selling forward contracts that are betting against the …

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Kuwait to let private sector manage airport, ports – Govt under pressure to cut costs and improve efficiency of economy

DUBAI, March 8, (RTRS): Kuwait’s government plans legislation that will let the private sector manage commercial ports and the country’s international airport, with the government retaining its ownership of the assets, a senior government official told Reuters on Tuesday. Like other Gulf states, Kuwait is under heavy pressure to cut …

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Kuwait bourse climbs 19.97 pts; volume dips – Americana soars 100 fils; Zain flat

KUWAIT CITY, March 8: Kuwait stocks pulled higher on Tuesday as it extended its volatile course. The bourse, after a soggy start, climbed 19.97 points to 5,284.68 points led by strong gains is select counters. Some of the banks too eked modest gains even as oil prices continued to trend …

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Warba Bank sponsors 14th Firefighter’s Festival – Move reinforces bank’s CSR program

KUWAIT CITY, March 7: Since its inception in the Kuwaiti market as an Islamic and fastest growing Bank providing full range of integrated banking and investment services in full compliance to the provisions of Islamic Sharia at local and global levels, Warba Bank has spared no efforts in participating with …

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ABK introduces series of new developments to digital channels – Bank continues to implement its ‘Simpler’ banking strategy

KUWAIT CITY, March 7: In line with its commitment to making Banking ‘Simpler’ for its customers, Al Ahli Bank of Kuwait (ABK) recently announced that it has deployed a series of new developments to its digital channels, which are now live to all ABK customers. The new enhancements allow customers …

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Oil price forcing producers to freeze output – OPEC to meet in Moscow for new talks

ABU DHABI, March 7, (RTRS): The United Arab Emirates’ energy minister said on Monday that current, low oil prices are forcing many producers to freeze output but that a correction in prices would take time. OPEC leader Saudi Arabia and non-OPEC producer Russia, the world’s two largest oil exporters, agreed …

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